yogalicious is plannig to open a studio in flgastaff, to raise the capital for this new studio, the comspny plans to issue $400,000, 10 year bonds with an annual interst rate of 11%, payments will be made anually, the market rate of interest for such a security is 10%

record the following related transactions:

1. recived the bond proceeds in the year 1

2. paid off the bond at the end of year 10

Yogalicious is planning to open a studio in Flagstaff. To raise capital for this new studio, the company plans to issue $400,000,10-year bonds with an annual interest rate of 11%. Payments will be made annually. The market rate of interest for such a security is 10%. What is the issuance price of this bond? Record the following related transactions: 1. Received the bond proceeds in year 1. 2. Paid off the bond at the end of Year 10. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{|c|}{ General Journal } & & \\ \hline Ref & Account & Debit & Credit \\ \hline & & & \\ & & & \\ \hline \end{tabular}